27 May 2025
The maritime industry is exploring nuclear power as a potential solution to meet the International Maritime Organization’s (IMO) goal of net-zero emissions by 2050. A pilot study under Norway’s Green Shipping Program (GSP), led by OSM Thome and supported by partners like Skuld, is investigating the feasibility of nuclear propulsion. The study emphasizes the need to consider all carbon-neutral fuel options due to the immense energy demands of future shipping. Key challenges include regulatory gaps, particularly in marine insurance, where nuclear risks are currently excluded. Skuld contributes by analyzing the International Group’s insurance structure and advocating for updated international conventions, such as revisiting the unratified 1962 Brussels Convention. The pilot also highlights the importance of redefining nuclear risk to include environmental concerns. Overall, the initiative reflects growing interest in nuclear energy within Norway’s maritime sector and aims to ensure safe, insurable, and sustainable nuclear-powered shipping.
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